A study of cooperative education in the United States over the period of July 1975 through November 1977 had two purposes: (1) to determine the degree to which it is a viable educational and/or financial aid mechanism for higher education institutions to adopt; and (2) to determine the effectiveness of the federal role in supporting cooperative education through Title IV-D of the Education Amendments of 1968. The seven chapters of the abridged final report discuss: (1) cooperative education in general; (2) the nature of the study; (3) to what extent cooperative education is a viable career education or financial aid mechanism; (4) whether or not it is a profitable investment for the participants; (5) the limitations of expansion in the U.S.; (6) the role of federal funding; and (7) program and policy implications. (MSE)